iTradeNetwork and Amphire to Merge

Combination Creates Leading, Global Food, Hospitality and
Healthcare Industry Supply Chain Network
PLEASANTON, Calif.--(Business Wire)--
iTradeNetwork Inc. (ITN), a privately-held technology leader in
supply chain solutions for the food industry and Amphire(R) Solutions
Inc., a privately-held, global provider of supply chain and purchasing
solutions to the foodservice, beverage, hospitality and healthcare
industries, today announced the signing of a definitive agreement to
merge the two companies. Financial terms of the transaction were not
disclosed.

The combined company, iTradeNetwork (ITN), will be the leading
global foodservice, retail grocery, hospitality and healthcare
industry supply chain network. Leveraging both companies' SaaS
(software-as-a-service) procurement and supply chain management
solutions, as well as ITN's Spend Intelligence solutions (through
ITN's recent acquisition of Instill), ITN will be uniquely capable of
delivering one of the most comprehensive set of software applications
to the food, hospitality and healthcare industries.

"Amphire and iTradeNetwork have been successful players in their
respective area of market focus for nearly a decade," said Mark
Barnekow, president and CEO of Amphire. "As the food industry finds
itself increasingly under pressure from soaring fuel prices and food
inflation, more customers will rely on technology to help improve
their operations and reduce costs. We believe this is an excellent
time to merge our businesses and leverage the resources of both
companies."

Under the terms of the transaction, Robert Bonavito, founder and
chief executive officer of iTradeNetwork, will serve as CEO of the
combined company. Mark Barnekow, president and CEO of Amphire will
serve as president of International with responsibility for
international expansion, global marketing, strategy and merger and
acquisitions. Both companies will retain their senior leadership
teams.

According to Bonavito: "This is an exciting time for ITN and a
substantial value creation opportunity for our customers. The
ITN/Amphire merger will provide five major benefits from our combined
company: 1) A next generation procurement platform for the
foodservice, beer, wine and spirits, hospitality, and healthcare
industries; 2) An established European operation with major customers
(such as Bidvest/3663, Coors, Intercontinental Hotels, Real Hotels and
Scottish and Newcastle); 3) The addition of major U.S. and Canadian
customers (such as ARAMARK, Bunzl, DMA, Gordon Food Service, IJ
Company and MBM); 4) Over 5,500+ manufacturers/suppliers; and 5) The
ability to provide a single point of connectivity for all of our
customers."

The transaction was partly facilitated by Accel-KKR, a
technology-focused private equity firm that acquired a majority equity
stake in iTradeNetwork in December 2007. Accel-KKR will continue to
hold a majority equity stake in the combined company following the
merger's completion.

About iTradeNetwork Inc

iTradeNetwork is a privately held technology leader in supply
chain solutions for the food industry. The ITN suite of products
include: Order Management System (OMS), Transportation Management
System (TMS), Spend Intelligence, Contract and Rebate Management
(CaRMA), Promotional Planning and Management, Demand Forecast, VMI,
Financial Services and Content, as well as low cost integration to
customers legacy systems. Most leading North American Retailers and
Foodservice companies are utilizing iTradeNetwork's e-business
solutions with over 5,500 trading partners/customers. For more
information, visit the iTradeNetwork, Inc. website at
http://www.itradenetwork.com.

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Contact:
Ann Walker, iTradeNetwork, Inc.
Tel: (925) 660-1067 or awalker@itradenetwork.com
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About Amphire Solutions Inc

Amphire Solutions provides global, end-to-end solutions to
optimize the food, beverage and hospitality supply chains, helping
companies manage and automate supply chain transactions and processes.
Currently serving over 700 suppliers, 175 distributors and 100,000
operator end users, the company's products allow enterprises to
address fundamental supply chain challenges such as transaction
management, contract management, compliance, reporting and analytics,
purchasing, and supply and demand forecasting with configurable and
user friendly web-based solutions. Amphire customers have greater
control and visibility into their business to make accurate decisions,
build brand loyalty and improve cash flow. For more information,
please visit www.amphire.com.

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Contact:
Meghan Fintland, MWW Group
Tel: (415) 395-5900 or mfintland@mww.com
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About Accel-KKR

Accel-KKR is a technology-focused private equity firm that invests
primarily in technology business with $15 million to $150 million in
revenue that are well positioned for top-line and bottom-line growth.
At the core of Accel-KKR's investment strategy is a commitment to
developing strong partnerships with the management teams of its
portfolio companies and a focus on building value through the
contribution of unique financial, strategic, technical, and
operational resources. Accel-KKR has a particular focus on the
following transactions: recapitalizations of family-owned or
closely-held private companies, divisional buyouts of larger
companies, and going private transactions. For more information please
visit www.accel-kkr.com.

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Contact:
Joseph Kuo, Kekst and Company
Tel: (212) 521-4863 or joe-kuo@kekst.com
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MWW Group
Meghan Fintland, 415-395-5906 (office)
415-202-4339 (mobile)
mfintland@mww.com

Copyright Business Wire 2008